Xenophobia Row: Oshiomhole Calls For Takeover Of MTN And Other South African Firms In Nigeria

According to Ireporter Online, Senator representing Edo North, Adams Oshiomhole, has defended his recent call for the nationalisation of MTN and other South African-owned companies operating in Nigeria, insisting that the protection of Nigerian lives must outweigh foreign investment considerations.

Oshiomhole made the remarks on Tuesday during an interview on Arise News, where he argued that Nigeria must adopt stronger economic measures against South African interests in response to renewed xenophobic attacks on Nigerians and other foreign nationals in South Africa. He maintained that repeated diplomatic engagements had failed to yield lasting results, adding that economic pressure had become necessary to enforce accountability.

The former Edo State governor suggested that while Nigerian shareholders in companies like MTN could retain their stakes, South African ownership interests should be removed. According to him, government intervention could involve nationalising such companies and later reprivatising them under full Nigerian control, ensuring that profits remain within the country.

He stated, “I am aware that MTN is quoted, and therefore Nigerian shareholders can hold on, but we take away the South African rights,” adding that “you nationalise, and then you reprivatise it so that Nigerians can take it over, and the profit they are taking out of Nigeria will be retained here. There will be no South African share in it.”

Oshiomhole further suggested that similar measures could be extended to other foreign financial institutions operating in Nigeria, particularly where home countries fail to protect Nigerian citizens abroad. He dismissed concerns that such actions could discourage foreign investors, insisting that human life must remain the government’s priority.

“If anything leads to the death of Nigeria, what is the value of wealth to the dead? We don’t want investors who invest at the expense of human blood,” he said, adding, “Is human life, or foreign investor, foreign dollar more important than the life of a Nigerian?”

He also expressed frustration over what he described as repeated killings of Nigerians in South Africa without accountability, alleging that perpetrators had gone unpunished over time despite previous diplomatic engagements, including those under former President Muhammadu Buhari.

Oshiomhole claimed that South African authorities only responded meaningfully after Nigeria applied diplomatic and economic pressure, though he did not provide evidence for the assertion.

Meanwhile, reports indicate that South Africa has recently experienced renewed protests and attacks targeting foreign nationals in cities such as Durban, Cape Town, East London, and parts of KwaZulu-Natal. South African President Cyril Ramaphosa condemned the violence, describing it as actions carried out by opportunists exploiting socio-economic grievances.

In Nigeria, the Nigerians in Diaspora Commission has urged citizens residing in South Africa to remain vigilant and avoid confrontation, noting ongoing diplomatic engagements between Nigerian and South African authorities to ensure the safety of affected nationals.

Oshiomhole’s comments have continued to spark debate over Nigeria’s diplomatic posture and economic relationship with South Africa amid rising concerns over the safety of Nigerians abroad.